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Whether he thought the people came first or the money came first, wouldn't have made any difference. It all had to be said in a campaign. It was all part of the same program. And I think Baruch honestly believed that if the financial situation was all right, the people would be all right. I don't think he was self-deceived enough to think that the stock market boom and the real estate boom would come back the way Hoover did. Hoover thought you could get it back again and you'd have two chickens in every pot once more. Baruch certainly never thought that.

I think that Baruch thought very ill of Hoover, as I recall it. I don't know why, but I think he thought Hoover was a stick-in-the-mud. I think he tried to offer advice and information and got treated to the cold fish personality, as who didn't, perhaps. Certainly by the time I recall Baruch advising about various speeches, he had nothing but ill to say of Hoover and felt that if Hoover had been a different kind of a mind, he could have done something during the period when he was President both to stop the boom and to stop the depression. That I'm pretty sure of. I heard Baruch say, as I heard many other bankers say - Winthrop Aldrich and others - “God, why doesn't he do something? There are things he could do.”